[February 04, 2013]

Rover.com Secures $7M in Series B Financing Led by Foundry Group

Rover.com, the digital dog boarding leader that connects dog owners with approved, reviewed and insured sitters, today announced that it has secured $7 million in Series B funding. New investor Foundry Group led the round and was joined by existing investor Madrona Venture Group. Brad Feld, Managing Director of Foundry Group, will join the board as part of the financing.

"Our dogs are important members of our family. That's the way we think of them, so I got the problem Rover.com was trying to solve immediately," said Feld, who is a longtime owner of Golden Retrievers. "When you are away, you want your dog to be in a loving home, preferably one that is close by and affordable. Rover.com solves that problem for the 43 million dog owners in the United States better than anybody else. It's a huge market and Rover.com is the perfect solution."

Rover.com is committed to creating a fun and safe way to match dog owners with trusted pet sitters. The company offers an online and mobile experience, backend support that verifies and reviews sitters, a satisfaction guarantee, and insurance coverage. It also provides seven-days-a-week, 24-hour access both to licensed veterinarians via VetLIVE and customer emergency service support.

With ove 100,000 dog lovers enrolled, access to sitters in over 4,300 cities and approximately 1,000 sitter options in each of the top 20 U.S. markets, Rover.com is the largest dog sitting marketplace on the Web. Over 87% of people in the United States are within a short drive of a Rover sitter. Customer satisfaction with the service has been very positive. In fact, over 94% of reviewed stays have received a five-star rating.

"We are committed to providing an incredible experience for dogs and their owners alike," said Aaron Easterly, CEO of Rover.com. "This investment provides the resources necessary to further develop our thriving community of dog sitters and owners and provide dogs with the loving care they deserve."

Rover.com also announced today that it is rolling out an exclusive, personalized video service from Animoto, the leader in online video creation. When a sitter submits photos of the dog they are watching, Rover.com will create a RoverReel, which is a free, high-quality custom video update to share with the dog owner.

About Rover

We love dogs! We created Rover.com because dog owners need sitters who are as reliable and loving as family. Since dogs give so much affection to their owners, we are jumping through hoops so people can find home stays that their dogs will love. Rover.com is a trusted online community for dog owners seeking local sitters to provide real homes when they travel. The company has thousands of qualified sitters who love dogs and are eager to add the personal touch that each dog is accustomed to at home. Rover.com maintains the mission of creating a safe, loving home for dogs even when owners are away by offering an alternative to traditional caged boarding facilities, or family, friends and neighbors who are often asked to sit in a pinch.

About Foundry Group

Foundry Group (www.foundrygroup.com) is a venture capital firm focused on making investments in early-stage information technology, Internet and software startups. Our passion is working alongside entrepreneurs to give birth to new technologies and to build those technologies into industry-leading companies. Its current venture fund of $225m was launched in October 2010 and is managed by its four managing directors. Foundry Group is centrally located in Boulder, CO, but invests in companies across North America.

About Madrona Venture Group

Madrona Venture Group (www.madrona.com) invests in early-stage companies across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. The firm manages nearly $1 billion and was an early investor in companies such as Amazon.com (News - Alert), Farecast.com, Isilon Systems and Sharebuilder.

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